NDLI: Digitalization and the Future of Production

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Digitalization and the Future of Production

Content Provider	Scilit
Author	Vilkas, Mantas Ghobakhloo, Morteza Grybauskas, Andrius
Copyright Year	2021
Description	Baltic states occupy midpoint positions in the global rankings of manufacturing companies' Industry 4.0 maturity. Such positions constitute, an achievement as the post-Soviet Baltic states' economies have recently passed their thirtieth year. On the other hand, the rankings reveal that the future of Baltics states' manufacturing tends to be evaluated worse than the present. This chapter takes a closer look at the barriers, drivers, and opportunities of Baltic states' manufacturing. This chapter provides an outlook of digitalization policies and the diffusion of service-based business models, front-end, and back-end digitalization practices using Lithuania as a case. Further, the manufacturing barriers, drivers, and opportunities are discussed using World Economic Forum's Readiness for the Future of Production Report. It is proposed that a weak demand environment, low R&D expenditures, the extent of the future labor force, and limited access to venture capital constitute important obstacles for the digital transformation of manufacturing companies in the Baltic states. High exposure to regional and global value chains, well-developed digital infrastructure, the use of digital technologies, and the continuous increase in economic complexity drive manufacturing industry transformation in the Baltic states. Finally, the opportunities are identified. The pandemic and Brexit have offered the possibility for countries to regain immigrants and build a future labor force. The capitalization of digital skills could provide the necessary traction for the region to facilitate innovation in manufacturing. Book Name: Industry 4.0 in SMEs Across the Globe
Related Links	https://api.taylorfrancis.com/content/chapters/edit/download?identifierName=doi&identifierValue=10.1201/9781003165880-7&type=chapterpdf
Ending Page	95
Page Count	17
Starting Page	79
DOI	10.1201/9781003165880-7
Language	English
Publisher	Informa UK Limited
Publisher Date	2021-11-29
Access Restriction	Open
Subject Keyword	Book Name: Industry 4.0 in Smes Across the Globe Manufacturing Baltic States Digital Models Industry Global Future
Content Type	Text
Resource Type	Chapter

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